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Cerrone Inc. has provided the following data for the month of July. The balance in the Finished Goods inventory account at the beginning of the
Cerrone Inc. has provided the following data for the month of July. The balance in the Finished Goods inventory account at the beginning of the month was $91,500 and at the end of the month was $83,250. The cost of goods manufactured for the month was $418,100. The actual manufacturing overhead cost incurred was $136,900 and the manufacturing overhead cost applied to jobs was $129,500. The adjusted cost of goods sold that would appear on the income statement for July is:
$418,100
$425,500
$410,700
$433,750
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